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MPBSE Supplementary Exam Dates 2024: The Madhya Pradesh Board of Secondary Education has declared the results for the Class 10th and 12th examinations. Alongside...
HomeBusinessChina EV battery maker BTR to build cathode plant in Morocco

China EV battery maker BTR to build cathode plant in Morocco

The Moroccan government gave the green light on Friday for


electric battery maker


New Material Group to build a




to produce key component cathode.
The plant, to be built at a cost of 3 billion dirhams ($300 million), will have a production capacity of 50,000 tonnes,


‘s investment ministry said.
The first output of 25,000 tonnes is expected in September 2026, the ministry said in a statement following the signing of the investment deal with BTR.

Moroccan officials have often pitched the north African country as a good location for EV battery factories because of its existing auto industry and renewable energy sectors, and the presence of raw materials including cobalt and phosphates.

Stellantis-owned Citroen has a plant in Kenitra in northwest Morocco with capacity to produce 50,000 supermini electric cars, while Renault and Stellantis-owned Peugeot make combustion-engine cars in Morocco, which is also a base for a cluster of car parts makers. (Reporting by Ahmed Eljechtimi; Editing by Susan Fenton)